Coinbase has announced its exclusive partnership with the American Music distributor, UnitedMasters to enable the choice of cryptocurrency payments to artists for the music they create. According to Coinbase’s recent blog, the partnership will not only financially empower the music creators, in fact, it will also ‘decentralize the economics of the music business.’
The UnitedMasters’ artists will be in charge of their earnings after the crypto partnership. The artists will decide whether they would prefer to be paid, in full or in part, in US dollars or in a cryptocurrency of their choice, further facilitating an autonomous payment system for the employees. The blog mentioned that the artists will have Coinbase’s full set of product offerings at their exposure, including spending, earning, trading, and borrowing services. The crypto exchange giant noted that their generosity is to help the artists do more with their crypto earnings instead of merely putting them aside as one would do with their traditional fiat savings.
“Our mission at Coinbase is to increase economic freedom in the world, and we applaud UnitedMasters’ efforts to help level the playing field for their community of musical artists. Crypto enables more fair and equal access to wealth for anyone, anywhere, without prejudice. We want to make it easy for every company to pay employees in crypto. This is the future of payroll.”
Coinbase Crypto paychecks
Last month, Coinbase announced its latest initiative, letting customers in the US deposit their paychecks into Coinbase, to further enable regular crypto trades and an array of crypto rewards by spending on Coinbase Cards. Coinbase guaranteed zero transaction fees on direct deposit of funds, along with instant and free access to the crypto economy.
Furthermore, Coinbase noted that their partnerships will let the users stay in control of their money by depositing as little or as much of their paychecks as they feel comfortable and offers the choice from 100+ cryptocurrencies available on Coinbase or in US Dollars.
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